Court Considers Social Security in Ch. 7 ‘Abuse’ Case

Debtors whose financial predicament results from excessive consumer spending and not from some unforeseen external calamity, and whose “financial situation” would allow them to settle with their unsecured creditors without sacrificing their standard of living or exhausting husband’s Social Security benefit to do so, may not pursue a Chapter 7 petition, says the Roanoke U.S. ...